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7 Aug 2023

Financial Markets

The Baht fell to a 3-week low while the SET dropped over-week

คะแนนเฉลี่ย

        The Thai stock market moved within a volatile range. The SET rose early in the week, boosted by purchases of large-cap stocks, particularly stocks of a major electronics producer, after its performance results in 2Q2023 came out better than expected. The SET tumbled later on sell-offs of foreign and institutional investors in line with   global risk assets due to the news regarding the downgrade of US credit rating by Fitch and the uncertainties surrounding domestic politics. However, the SET recovered slightly at the end of the week in line with other stock markets, while energy stocks were boosted by the rising global oil prices.       
        On Friday, August 4, 2023, the SET closed at 1,530.46 points, down 0.83% over-week. The average daily trading value was THB51,769.34 million, up 5.07% over-week. The mai closed at 461.31 points, down 1.01% over-week.
        August 7-11, 2023, KSecurities expects the SET to have support at 1,515 and 1,485 points, but resistance at 1,545 and 1,560 points, respectively. KResearch views that key matters to watch include Thailand’s July Inflation,  foreign fund flows, domestic political issues, and Thai listed companies’ performance results for 2Q2023. The US economic data that warrant close monitoring include June Exports, July CPI and PPI, plus Weekly Jobless Claims. Close attention must also be paid to UK GDP report for 2Q2023, Japan’s July CPI, plus China’s July economic data such as CPI and PPI.

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Financial Markets